Benefits of downsizing your home
People downsize for all sorts of reasons: adapting to an empty nest, preparing for retirement, or maybe just to seek out a simpler life. As circumstances...
With so many different options available in the construction industry, the decision to build a new home is not a small one and there are lots of different factors to consider. It can be daunting to navigate, especially when delving into the uncharted territory of building a prefabricated house design. However the Genius Homes team are dedicated to making the build process as easy as possible, therefore in this blog, we’ve covered the top five things you need to know when building a prefab home.
Prefabricated homes (also known as modular or transportable homes) are built off-site in a factory and once constructed, are delivered to the site to become permanent dwellings. This unique method of prefab construction enables savvy home buyers to build a high-quality home in an efficient and cost-effective manner. The key benefits of this type of building method include:
With recent data from the Real Estate Institute of New Zealand (REINZ) showing the median prices for residential property nationwide now at $826,000, which is a 25% increase from the 12 months prior, many are searching for more affordable ways to enter the housing market. As mentioned above, the prefab home building process has many cost-saving advantages and due to the controlled building environment, costs are managed effectively and overruns avoided.
However funding or getting a mortgage for your prefab home can be a little different from your traditional or kitset home, primarily due to the way it’s built. Commonly, lending for kitset or traditional homes is released at agreed stages which allows you to pay your builders after each construction stage is completed. Of course, this protects you in case the build is delayed so you’re not paying for incomplete work. Also, since you only pay interest on the loan amounts that have been released, should a delay occur you won’t be paying interest on any work that hasn’t been completed. A prefab home is built all at once and delivered to your site, therefore banks look at them in a different light. However, we’re happy to discuss options for adjusting payment terms to meet the needs of the lender, if required.
Since prefab homes are often less costly, those with equity tied up in another house or land may still gain support from the bank. First home buyers may be able to get a guarantee from a parent using the equity in their property to support the loan application. In addition, mortgage brokers can assist with sourcing funding outside of traditional lenders like banks.
When building a new home, the floorplan and design you select should align with your lifestyle and future plans, as well as still fitting into your budget. It’s important to consider the following factors when weighing up the various design options:
Genius Homes specialise in prefab homes and have over 50 different designs to choose between. These include 2 bedroom, 3 bedroom, and 4-5 bedroom house plans, as well as purpose-designed farm accommodation, self-contained units, or we can also create a design that’s unique to you. If you’re unsure which of your required house features match one of the Genius Homes designs, use our Dream Home Finder online tool.
Every Genius Homes plan option comes with a list of standard inclusions, therefore with the exception of transport and connecting the house to utilities, there are no extra costs. However we have a wide range of custom features that you can customise if you’d prefer to add more of your personality and preferences in. The most popular of these include adding floor-to-ceiling windows, extended decks, cedar cladding, verandahs or internal fitting changes.
When it comes to upgrading your house design, these upgrades fall into two main categories; structural and non-structural. Structural upgrades affect the parts offering engineering strength to your home and need to be decided upon before the build starts. They often need to be signed off by a specialist and approved by the council, a process which is easier when done early!
Non-structural upgrades, however, are more cosmetic and can often be added or changed later on, at a cost of course. It will save you, in the long run, to include them from the get-go. To see the most common house plan upgrades requested to Genius Homes, including additional storage, sculleries, tiled bathrooms, garages and feature lighting, check out our other blog.
Our homes are designed by engineers with a strong steel sub-frame and high-quality timber framing to ensure they exceed NZ building code requirements. We use high-quality materials from trusted, well-known brands such as Colorsteel, Weathertex, Bradford Gold, Godfrey Hirst and Gib. Each prefab home has a 2-year hassle-free guarantee and 50-year steel frame structure warranty. To learn more about the prefab building process with Genius Homes, check out our website.
Whether you’re looking for your first home, downsizing, or farm accommodation, the process of building can be daunting as there are many options to choose from. Prefabricated homes offer an affordable and convenient alternative to traditional builds, without compromising the design and modern features.
To learn more about the prefab home building process, download our new Ultimate Guide to Choosing a Prefab Home. It’s packed full of our tips and advice to help ensure that you make an informed decision when building your new home.
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Genius Homes designs and builds prefabricated and transportable homes for delivery across the South Island of New Zealand. From small studio homes to large 4 bedroom prefabricated houses we can be relied upon to deliver your next home.